Taiwan’s Oil Imports Rise After Industrial Output Accelerates

March 7 (Bloomberg) -- Taiwan, which imports more than 99
percent of its crude, purchased more in February after growth in
industrial output accelerated, boosting energy demand.

Shipments rose 12 percent from a year earlier to 26.8
million barrels last month, the Ministry of Finance said in
Taipei today. That’s equivalent to about 958,000 barrels a day.
The island’s February oil bill increased 7 percent to $2.96
billion, the ministry said in a statement.

Industrial production increased 19 percent from a year
earlier in January, the fastest pace in more than two years, a
Ministry of Economic Affairs report showed Feb.27. Output by
chemical makers climbed 15 percent.